Hodges Capital Management Inc. Increases Position in The Hanover Insurance Group, Inc. $THG

Hodges Capital Management Inc. increased its holdings in The Hanover Insurance Group, Inc. (NYSE:THG) by 14.4% during the 1st quarter, HoldingsChannel reports. The fund owned 49,188 shares of the insurance provider’s stock after acquiring an additional 6,180 shares during the quarter. Hodges Capital Management Inc.’s holdings in The Hanover Insurance Group were worth $8,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new position in shares of The Hanover Insurance Group in the 3rd quarter valued at approximately $26,000. Community Bank N.A. acquired a new stake in shares of The Hanover Insurance Group during the third quarter worth approximately $27,000. McMillan Office Inc. acquired a new stake in shares of The Hanover Insurance Group during the fourth quarter worth approximately $31,000. Entrust Financial LLC bought a new stake in shares of The Hanover Insurance Group in the fourth quarter worth $33,000. Finally, Root Financial Partners LLC raised its holdings in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Stock Performance

The Hanover Insurance Group stock opened at $221.14 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.37 and a quick ratio of 0.37. The Hanover Insurance Group, Inc. has a 12 month low of $160.97 and a 12 month high of $221.70. The company has a fifty day moving average price of $195.15 and a two-hundred day moving average price of $182.77. The company has a market cap of $7.74 billion, a PE ratio of 11.13 and a beta of 0.28.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $1.11. The Hanover Insurance Group had a net margin of 10.77% and a return on equity of 21.55%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the company earned $3.87 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Research analysts expect that The Hanover Insurance Group, Inc. will post 18.36 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date was Friday, June 12th. This represents a $3.80 annualized dividend and a yield of 1.7%. The Hanover Insurance Group’s dividend payout ratio is 19.12%.

The Hanover Insurance Group announced that its board has initiated a share repurchase plan on Wednesday, May 13th that authorizes the company to repurchase $700.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

THG has been the topic of a number of research analyst reports. Citigroup reiterated an “outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday, April 30th. Zacks Research raised shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Piper Sandler upped their target price on shares of The Hanover Insurance Group from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Morgan Stanley set a $195.00 price target on shares of The Hanover Insurance Group in a research report on Friday, May 1st. Finally, BMO Capital Markets downgraded The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $194.00 to $203.00 in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus price target of $207.00.

Insider Activity

In other news, Director Francisco Aristeguieta sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $195.37, for a total transaction of $195,370.00. Following the completion of the transaction, the director directly owned 4,053 shares of the company’s stock, valued at approximately $791,834.61. This represents a 19.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia Egan sold 3,400 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $188.50, for a total value of $640,900.00. Following the sale, the director owned 9,359 shares in the company, valued at $1,764,171.50. The trade was a 26.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,508 shares of company stock valued at $5,704,651 over the last quarter. Corporate insiders own 2.80% of the company’s stock.

The Hanover Insurance Group Profile

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.